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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Option Activity under 2003 Plan | A summary of option activity under the 2003 Plan as of December 31, 2020, and changes during the year then ended, is presented below:
| Shares |  | Weighted– Average Exercise Price |  | Weighted– Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding, beginning of year | 12,675 |  |  | $ | 5.42 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (8,625) |  |  | 4.45 |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Outstanding, end of year | 4,050 |  |  | 7.49 |  |  | 1.45 |  | $ | 33,885 |
Exercisable, end of year | 4,050 |  |  | 7.49 |  |  | 1.45 |  | 33,885 |
A summary of option activity under the 2013 Plan as of December 31, 2020, and changes during the year then ended, is presented below:
| Shares |  | Weighted– Average Exercise Price |  | Weighted– Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding, beginning of year | 316,777 |  |  | $ | 12.99 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (11,415) |  |  | 10.38 |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Outstanding, end of year | 305,362 |  |  | 13.09 |  |  | 5.38 |  | $ | 846,973 |
Exercisable, end of year | 271,763 |  |  | 12.52 |  |  | 5.06 |  | 908,827 |
Fair Value of Options Granted | The fair value of options granted is estimated on the date of the grant using an option–pricing model with the following weighted–average assumptions:
|  |  | Years Ended December 31
|  |  | 2019 |  | 2018
Dividend yields |  |  | 2.39 | % |  | 1.99 | %
Volatility factors of expected market price of common stock |  |  | 28.67 | % |  | 28.60 | %
Risk-free interest rates |  |  | 2.61 | % |  | 2.85 | %
Expected life of options |  |  | 8 years |  | 8 years
Summary of Status of Non-vested, Restricted and Performance Shares | A summary of the status of Horizon’s non–vested restricted and performance shares as of December 31, 2020 are presented below:
| Shares |  | Weighted Average Grant Date Fair Value
Non–vested,beginning of year | 213,569 |  |  | $ | 17.97 |
Vested | (55,177) |  |  | 16.97 |
Granted | 182,702 |  |  | 10.22 |
Forfeited | (6,204) |  |  | 18.51 |
Non–vested,end of year | 334,890 |  |  | 13.90 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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